News stories from Monday September 29, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Iraq accepted a U.N. call for an end to the fighting and for mediation with only one condition -- that Iran also halt hostilities. Baghdad's position was expressed in a letter to Secretary General Waldheim in response to an appeal by the Security Council. But diplomats expect no such reply, or perhaps no reply at all, from Iran.
Iran vowed to carry on the war with Iraq regardless of the losses. Iraqi forces continued offensives against key cities and oil installations in Iran. The Iranians responded with air and artillery attacks against Iraqi oil installations and other targets and warned nearby countries not to give refuge to Iraqi ships.
[New York Times] - Teheran by night is a ghost town, as are most other Iranian cities. Despite the droning of air-raid sirens, the only verifiable bombing of the capital occurred a week ago. Iraqi planes have strafed the Teheran airport, but they have not damaged the runways. The war has little impact on Baghdad, according to a dispatch from the Iraqi capital. Iranian planes have repeatedly buzzed the city and have bombed its military bases, but pedestrians still jam the streets, and stores are well stocked with staples. [New York Times]
- United States aid for Saudi defenses may include Air Force planes, according to Carter administration officials. They also said that Washington was conferring with its allies on forming a task force to protect Western oil interests in the Persian Gulf. [New York Times]
- Unionists cheered President Carter as he stressed his commitment to many liberal causes. About 1,000 delegates at a convention of the International Ladies Garment Workers Union hailed a rousing speech in which the President reviewed the Democratic record on issues such as the minimum wage and the proposed equal rights amendment and accused the Republicans of having "turned their backs on American women." He spoke during a campaign visit to New York City.
A presidential guarantee to New York accompanied a statement by President Carter that he could not win re-election if he failed to carry the state. He announced his approval of $900 million in standby federal loan guarantees for New York City, to be issued as soon as congressional efforts to block them had been defeated.
[New York Times] - Support for Ronald Reagan was ex-pressed by Leon Jaworski, the former Watergate prosecutor, who announced that he would head a "Democrats for Reagan" group. Mr. Jaworski said he would rather have a President who was "a competent extremist than an incompetent moderate" and that he was deeply concerned over the way that President Carter had dealt with Billy Carter's ties with Libya. [New York Times]
- The suburbs are the key battleground of the crucial states in the presidential race. It is there where the residents are most likely to vote, and where voters are most likely to change their minds. The Democrats don't have to carry the suburbs, but they have to do better in them than they did in 1976.
Growth in small towns and rural areas as well as a decline of older cities and suburbs is reflected in the preliminary figures of the 1980 census. The reports show that, even in the rapidly growing Southern and Western Sun Belt, some inner cities are shrinking while those that are growing are gaining population much less rapidly than nearby smaller cities and towns.
[New York Times] - State options on abortions gained and the House authorized Medicaid funds for abortions only when a mother's life is endangered. The Senate voted to allow the states to decide whether Medicaid funds could be used for abortions to save a mother's life and in cases of rape or incest. Differences in the two bills are to be resolved in a House-Senate conference. [New York Times]
- A major flood in California threatened to destroy 45,000 acres of crops and to cut off Oakland's main water supply. Winds and high water hampered efforts to seal a break in a river levee and some areas were inundated by water 25 feet deep. [New York Times]
- Vatican moderation on birth control was urged by the United States Conference of Roman Catholic Bishops at the Synod of Bishops in Rome. The conference said that the great number of Catholics who use contraceptives could not be dismissed as "obdurate, ignorant" people of bad will. [New York Times]
- Ten Chinese figures may face death after their forthcoming trials on charges of sedition and trying to murder Mao Tse-tung, a Chinese official indicated. The defendants include the so-called Gang of Four led by Jiang Qing, the widow of the late Chinese leader. The trial is designed to bury the era of the Cultural Revolution. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 921.93 (-18.17, -1.93%)
Arms Index is the ratio of volume per declining issue to volume per advancing issue; a figure below 1.0 is bullish. | |||||||||||||||
| Market Index Trends | |||
|---|---|---|---|
| Date | DJIA | S&P | Volume* |
| September 26, 1980 | 940.10 | 126.35 | 49.43 |
| September 25, 1980 | 955.97 | 128.72 | 49.51 |
| September 24, 1980 | 964.76 | 130.37 | 56.86 |
| September 23, 1980 | 962.03 | 129.43 | 64.39 |
| September 22, 1980 | 974.57 | 130.40 | 53.14 |
| September 19, 1980 | 963.74 | 129.25 | 53.74 |
| September 18, 1980 | 956.48 | 128.40 | 63.39 |
| September 17, 1980 | 961.26 | 128.87 | 63.99 |
| September 16, 1980 | 945.90 | 126.74 | 57.28 |
| September 15, 1980 | 937.63 | 125.67 | 44.63 |